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SES Buying Leonardo Defense Communications Unit for $450 Million

Satellite operator SES SA has agreed to buy Global Enterprise Solutions from defense contractor Leonardo DRS Inc. for $450 million to bolster its U.S. defense business.

The deal, expected to close in the second half of 2022, will double SES’s U.S. government revenues. GES’s sales of “mission-critical communications” and securities services to the U.S. Defense Department are projected to grow to $250 million per year, Luxembourg-based SES said in a statement Tuesday.